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Calculate amount of additional paid-in capital at december

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Problem 1: The Sorrento Skies Corporation issues 16,000 shares of $100 par value preferred stock for cash at $120 per share. Journalize this transaction.

Problem 2: G. Jones Corporation was organized on January 1, 2014, with authorized capital of 1,000,000 shares of $10 par value common stock. During 2014, Jones issued 40,000 shares at $12 per share, purchased 4,000 shares of treasury stock at $13 per share, and sold 4,000 shares of treasury stock at $14 per share. Calculate the amount of additional paid-in capital at December 31, 2014.

Reference no: EM132824642

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